Deals

Time Inc. UK today announces the sale of its Motoring brands to Kelsey Media. The deal sees Kelsey acquire VolksWorld, VolksWorld Camper & Bus and VWt, as well as the annual VolksWorld Show and VolksWorld Camper & Bus Show, with immediate effect. There will be no interruption to the publishing schedules of the three print titles.

Kelsey’s portfolio encompasses 60-plus brands and the company has a major presence in the Classic Motoring, Performance Motoring and Commercial Vehicles markets, where it produces more than 20 magazines, websites and events.

Oswin Grady, managing director of Time Inc. UK’s Specialist group says: “Kelsey Media is passionate about motoring so it is the perfect new home for the VW brands. I wish all the staff the very best for the future.”

Phil Weeden, managing director, Kelsey Media adds: “We are delighted to welcome the VolksWorld brands and their staff to our business. Acquiring these magazines and associated events is an important part of our strategy for our classic motoring portfolio of respected brands.”

Time Inc. is committed to actively managing its portfolio of brands and assets. The business continues to evaluate its portfolio to explore strategic alternatives including investments, strategic partnerships, acquisitions and divestitures. In 2015, Time Inc. sold the Blue Fin Building and acquired UK Cycling Events, the UK’s leading provider of premium cycling events, and International Craft & Hobby Fair Limited (ICHF), the UK’s number one craft events business. The business also made a strategic investment in Snap Fashion, a visual search business specialising in fashion.

Around 60% of suppliers to the UK’s event industry are facing collapse within three months unless event businesses receive further support from the government. Of those businesses, 6% said they are unlikely to make it to the end of April.